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Ticker: APLD
Current Price: ~$11.40
Market Cap: ~$2.8 billion
Industry: AI/Data Center Infrastructure & Digital Services
Applied Digital (APLD) provides digital infrastructure, AI-focused data center services, and HPC/cloud hosting. Built upon repositioning legacy crypto-data campus assets into AI-ready infrastructure, the company aims to generate long-duration revenue through tiered leases with AI users (e.g., CoreWeave). This represents a hybrid of real asset income and AI infrastructure growth—rare among publicly listed stocks.
Metric | Latest Stats |
---|---|
Revenue (2024 TTM) | ~$221 million (stockanalysis.com) |
Net Loss (TTM) | ~$244 million |
Shares Outstanding | ~225 million |
EPS (TTM) | –$1.39 |
EV | ~$3.47 billion |
EV/Revenue | ~15.7× |
The mix of legacy asset conversion and modern HPC leasing places APLD between REIT-like income and growth tech valuation.
This low proxy may suggest potential valuation flexibility as leasebook revenue scales.
Implication: High short interest may contribute to price volatility—news-driven rallies may be exaggerated.
Risk | Mitigation |
---|---|
Lease conversion delays or tenant attrition | CoreWeave lease signed, provides revenue stability |
Execution in asset repurposing | CoreWeave action demonstrates operational capability |
Volatility from short interest | Use disciplined allocation in a high-volatility asset |
Macro slowdown impacting leasing demand | Diversified geography and asset adaptability |
APLD offers a rare blend of AI infrastructure growth and REIT-like recurring revenue, underpinned by a massive CoreWeave lease and large data campus footprint. With a growth-adjusted proxy PEG of ~0.08 and a high short interest, the stock reflects characteristics of both value and speculative volatility. Analysts remain bullish, but the stock’s next leg relies on scaled lease execution—suggesting that timing and position sizing may be important.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. The author is not a registered investment advisor. All opinions are the author’s own. Readers are encouraged to do their own research and consult with a licensed financial professional before making investment decisions.